How independent is the US Federal Reserve, and can President Trump oust central bank's chief Powell?

As investors grapple with the wide-reaching implications of tariffs, markets now face another risk: Tensions have been escalating between United States President Donald Trump and Federal Reserve Chairman Jerome Powell. Trump has suggested he could kick out the central bank chief for refusing to aggressively cut interest rates. Finance and economics professor Itay Goldstein of the University of Pennsylvania tells CNA's Asia First that the US economy stands to suffer if the Fed loses independence.

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